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The Rolling Department of Kraus Steel Company had 1,962 tons in beginning work in process inventory...

The Rolling Department of Kraus Steel Company had 1,962 tons in beginning work in process inventory (10% complete) on October 1. During October, 32,700 tons were completed. The ending work in process inventory on October 31 was 2,616 tons (70% complete). What are the total equivalent units for conversion costs? Round to the nearest whole unit.

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Answer #1

Answer- The total equivalent units for conversion costs are = 34335 units.

Explanation-

Statement of Equivalent Production units
Particulars Output Units Equivalent Production
% Conversion costs
Beginning work in process 1962 90 1766
Add- Started and completed during the period (32700 tons-1962 tons) 30738 100 30738
Trnasferred out of Rolling Dept.(Completed) 32700 32504
Closing work in process 2616 70 1831
Total units to be assigned costs 35316 34335
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